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Chapter 6
Looking Big in the Twenty-First Century Global
Business
We know that many entrepreneurs started
businesses in the basements of their homes, in their apartments, and—for
student entrepreneurs—in their doom rooms. These start-ups faced many
challenges during their early stages—challenges such as how to compete
against bigger, established companies with huge resources. The ability
of smaller companies to compete with these bigger, established companies
lies in their creative resourcefulness.
A major creative resourcefulness by
smaller companies is the strategic development of virtual networks,
partnerships, licensing, and outsourcing in various strategic alliances
to accomplishing set-out goals. Also, resourcefulness in bootstrapping
your way to a competitive growth will help you better direct your
limited resources to areas that help in your strategic alliances.
Creating virtual, strategic alliances
allows the entrepreneur to become one of the industry players with
limited resources and little overhead. Entrepreneurs in R&D,
distribution, retailing, and other types of businesses can create the
illusion of largeness by building virtual companies. Customers tend to
see virtual companies as established suppliers of goods and services,
when in reality, virtual companies can be operated from any location on
earth as long as the entrepreneur is strategically linked to the network
simply by modern technologies such as phone, fax, e-mail, and Internet............
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